What does pennies on the dollar mean?

Question

I have always heard it in movies but they move on too fast for me to process it.

In: Other

Answer 1

It means that something is worth dollars, but the offer to buy it is much below that (pennies) because the seller is desperate while the buyer is not.

Essentially, a seller is so desperate to sell that they are encouraged to sell something for much less than it is worth. Sell it for pennies instead of dollars.